Hypersensitivity refers to exaggerated immune responses that can lead to tissue damage and can vary from mild to fatal reactions. It is classified into four types based on its mechanism and timing: Type I (immediate hypersensitivity), Type II (cytotoxic), Type III (immune complex), and Type IV (delayed-type hypersensitivity). Common allergens include those ingested, inhaled, or injected, and the document also discusses various reactions and diagnostic tests associated with these hypersensitivity types.